p6 news Feb12 10/2/10 20:12 Page 6
news
ttglive.com
TTA speeds up cashflow
Agents warned
after online accusations
of VAT deadline
AGENTS have less than two months to comply
with EU VAT laws or risk a £1,500 fine.
David Bennett, VAT partner at accountants
Chris Gray.
of its members – and as a Saffery Champness, said most agents were
THE Travel Trust Associa- result had already made unaware of the looming mid-April deadline.
tion is taking steps to three changes that had The date is the first time agents have to submit
speed up payments to its improved their cash- a sales list of all commissions paid by overseas
tour operator members flow “immeasurably”. suppliers, under new rules that came into force
after complaints that The changes involved on January 1.
delays were hitting their allowing payments to Bennett said he had outlined the changes to a
cashflow. suppliers to be made by di- room full of agents earlier this year and only 25%
TTA operations director rect debit out of the trust account of them had heard of the requirement, but all of
Gary Lewis said the association rather than going through trustees, allowing them needed to meet the deadline.
had already taken three steps to make sure American Express foreign exchange payments to The changes mean UK agents have to submit a
operators received their money faster and more be made direct out of the trust account, and sales list each quarter or risk the penalty.
would be announced next month. speeding up payments where a supplier was cov- Bennett said Revenue and Customs was likely to
He told TTG about the moves after ered by failure insurance. be lenient at first as the rules were new, but that
several operators complained about the time it He said two further changes would be would not last.
took to get payments from the TTA’s trustees in announced on March 1. One would improve the The rule applies only to agents who take com-
an online forum, in a debate entitled “The TTA way the TTA explained its process as some new missions, rather than those who add a mark up.
are sending us mad”. members did not always understand the system, Bennett was speaking at a seminar with the
Eugene Bari, Pumpkin Tours managing director, and the other would change the process for deal- European Tour Operator Association on Vat and
said he was still waiting for payments for trips ing with documents at the TTA head office. the tour operators margin scheme (Toms)
taken in December and complained that the TTA’s Another operator commenting on the forum, this week.
“antiquated” system was “killing our cashflow”. at smallfishbigocean.com, said that dealing with He said the European Commission seemed to
Bari said TTA’s system, which holds customers’ trustees was a “nightmare” and faxes lost be making progress in reforming Toms after a
money in a trust account until the payment date, between the trustees and a bank had led to it meeting of member states last week and the UK
suited agents, but not operators, who had to pay being placed on stop-sell. Treasury was hopeful of achieving change.
more than agents to suppliers up front. And a third said dealing with the trustees was
Lewis said the TTA had recognised there were like stepping back to the 1980s and a company
issues with tour operators – which make up 30% that dealt only with “faxes and staples”.
NCL to grow Europe
summer sailings
NORWEGIAN Cruise Line has increased capacity
in Europe for its 2011-12 summer deployment in
response to rising demand.
General manager Stephen Park said: “Agents
have noticed the strong growth of continental
Europe and so have we, which is why we decided
that our newest and largest ship, Norwegian
Epic, will be based in Europe rather than the
Caribbean next year.”
Norwegian Epic, which is being built in France
at the moment, will be one of three ships sailing
western Mediterranean itineraries.
Its inauguration will be a two-day cruise from
Southampton upon which 2,500 agents will sail.
HOWZAT! Midlands Co-op staff in Raunds joined Northamptonshire County Cricket Club to Park said: “We want as many as possible to get
kickstart fundraising for the Motor Neurone Disease Association. Cricketers Lee Daggett a feel for the ship, which, especially when it is in
and David Sales (left and centre, back) joined agent Laura Haggar, Frank Croft (Midlands Europe, we expect they will be keen to sell.”
Co-operative Society president) and Mandy Lomax (head of corporate development).
Last year Midlands Co-op raised more than £500,000 for the British Heart Foundation ■ Cruise news, p18
06 12.02.2010
Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53  |  Page 54  |  Page 55  |  Page 56  |  Page 57  |  Page 58  |  Page 59  |  Page 60